Symantec (NASDAQ:SYMC) had its price target raised by stock analysts at Stifel Nicolaus from $20.00 to $22.00 in a report released on Tuesday. The brokerage presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 4.61% from the stock’s previous close.

SYMC has been the topic of a number of other research reports. Barclays reduced their target price on Symantec from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, August 6th. BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. UBS Group raised Symantec from a “neutral” rating to a “positive” rating in a research note on Tuesday, August 21st. Zacks Investment Research raised Symantec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, ValuEngine cut Symantec from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.71.

Symantec stock opened at $21.03 on Tuesday. The firm has a market capitalization of $13.48 billion, a PE ratio of 22.14, a PEG ratio of 3.05 and a beta of 0.65. Symantec has a fifty-two week low of $17.81 and a fifty-two week high of $33.92. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85.

Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, August 2nd. The technology company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. sell-side analysts anticipate that Symantec will post 0.9 earnings per share for the current year.

Several large investors have recently made changes to their positions in SYMC. US Bancorp DE grew its stake in shares of Symantec by 31.2% during the first quarter. US Bancorp DE now owns 91,702 shares of the technology company’s stock valued at $2,371,000 after buying an additional 21,819 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Symantec by 76.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 73,048 shares of the technology company’s stock valued at $1,888,000 after buying an additional 31,743 shares during the last quarter. Norinchukin Bank The grew its stake in shares of Symantec by 14.6% during the first quarter. Norinchukin Bank The now owns 56,809 shares of the technology company’s stock valued at $1,469,000 after buying an additional 7,240 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of Symantec by 3.0% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 97,470 shares of the technology company’s stock valued at $2,520,000 after buying an additional 2,800 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Symantec by 34.9% during the first quarter. BNP Paribas Arbitrage SA now owns 421,393 shares of the technology company’s stock valued at $10,893,000 after buying an additional 108,968 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

About Symantec

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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